Coinbase Launches Prediction Market for Future Events

Coinbase has introduced a new prediction market feature that enables users to trade contracts on future events. This allows users to bet on the outcome of various events, including sports games and other happenings in crypto, economics, politics, and more.

The platform uses a 'yes/no' format for trading, where users can buy or sell contracts based on their prediction about the event's outcome. The price of each contract reflects the market's odds, with $1 being paid out if the event occurs and $0 if it does not.

Users need to have a Coinbase account and complete identity verification and basic income/net worth details to access the prediction markets. Once approved, they can fund their account and start trading.